ECONOMY – Swiss bank Credit Suisse said it would borrow up to 50 billion francs from the Swiss central bank to shore up liquidity and boost investor confidence, as the collapse of two banks in the United States last week raises concerns about the health of global banks in the face of rising interest rates.
In a statement on Thursday, Credit Suisse said it would exercise an option to borrow 50 billion francs (57 billion euros) from the central bank, following assurances from authorities that the bank met "the capital and liquidity requirements imposed on systemically important banks" and that it could access central bank liquidity if needed.
